James Street Baptist developers ‘eager’ to start construction
Vantage is contemplating a shift to rental for the long-delayed condo project.
Aug. 15, 2026 By Teviah Moro Reporter [email protected]
A new development firm working on a long-delayed plan for a condo tower at a partially demolished downtown Hamilton church is leaning toward rental.
“We’re eager to get this project under construction,” Alan Leela, co-founder and partner of Vantage Developments Inc., told The Spectator via email.
Vantage has city approval for the James Street Baptist Church project’s site plan, and is doing technical design and engineering work for building permits, Leela noted.
Meanwhile, the crashed condo market is driving the potential switch to rental, he said, noting “we’re working to put together various pieces of the puzzle to execute this strategy.”
Demand for condos has collapsed in the Greater Toronto and Hamilton Area, leading to cancelled or paused projects, as well as a redirection toward rental apartments.
Condo projects must reach a threshold of presales, 60 to 70 per cent, before lenders agree to financing — a hurdle rental developments don’t face.
The rest of the story
https://www.thespec.com/news/hamilton-re...2929da1-dc39-50d7-9d2d-1287718e9997.html
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